Emotion and Data – Key Factors to Attract and Retain the Digital Customer

Digitisation currently requires organisations to review its customer relationship models. Having thorough knowledge of your customer and their emotions are key success factors to long-term customer loyalty.

Whether we consciously or subconsciously recognise it, more than half of our behaviors are related to how we feel. Think about how you feel when you shop, eat, or exercise or generally spend your money. Which activities cause anxiety? What gives us joy? What are you looking forward to? Businesses across industries put the customer at the center of their business by focusing on getting to know them better, optimising communication and generating value propositions that connect with their emotions. But often, companies overlook that emotions are a fundamental part of the relationship.

At what point did the financial industry forget that people have strong emotions to money? Today, consumers can feel this glaring oversight at every level of their interaction that build products with no consideration as to how the products emotionally resonate with consumers. Unlike physical consumer products, like an outfit, or shoes, insurance and financial institutions don’t utilise beacons to analyse human expressions around the services offered.

An elated customer who just won the lottery will have a different response and wave of emotions from the moped customer who just received an unexpected bill. But feelings can’t be measured like numbers can, or can it?

From our perspective, the emotional experience and data, through consumer digitisation, are foundations of success.

The digital customer is connected through various channels including mobile, web, app or a call center. They are demanding and a personalized approach to cater to their personal needs. With these new expectations, companies must define a global strategic strategy and utilise instruments that allow the customer to interact through various channels and creating points real-time interaction. It is necessary to monitor when the customer demands immediate attention, need to provide advice or provide empathy.